Financial Literacy Review

Front

What is profit?

Back

Money you have after you have paid all your expenses.

Front

What are financial institutions?

Back

Banks, credit unions, savings and loans.

Front

Why do people deposit money at banks?

Back

They want to keep their money in a safe place.

Front

What are fixed expenses?

Back

Expenses that happen each month and are about the same amount.

Front

What is the formula to calculate profit?

Back

Profit = Earnings - Expenses.

Tags

CCSS.6.NS.B.3

Front

If Bianca earned $3,934 and spent $2,053, what is her profit?

Back

$1,881.

Tags

CCSS.4.OA.A.3

Front

What are variable expenses?

Back

Expenses that can change from month to month.

Front

Give an example of a fixed expense.

Back

Rent or mortgage payment.

Front

Give an example of a variable expense.

Back

Groceries or entertainment.

Front

What is a bank?

Back

A financial institution that accepts deposits and provides loans.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C